Essar Power’s Tori thermal power project (1,200 MW) in Jharkhand, which is undergoing insolvency proceedings, has so far been unable to draw the interest of buyers. The Insolvency Resolution Professional (IRP) has extended the deadline for submission of resolution plan by interested parties for the sixth time now. The new deadline is December 19, 2018.
The deadline has been extended as some applicants wanted more time to do due diligence, said sources close to the IRP.
“The prospective resolution applicants want three-four months to do due diligence on the company and the asset. Read More
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